M
ack Real Estate Group has acquired 2,300 acres of state land in north Phoenix at auction with plans to develop a $7 billion tech village. The New York-based investor was the sole bidder, purchasing the land surrounding the Taiwan Manufacturing Semiconductor plant for $56.28 million, or $24,000 an acre. The Arizona State Land Department sold the land.

    The site will be transformed into the Sonoran Oasis Science and Technology Park, anchored by the $65 billion Taiwan Manufacturing Semiconductor plant in Deer Valley. Mack plans to partner with Los Angeles-based McCourt Partners to develop 28 million square feet of industrial and office space, shops, restaurants, and apartments. The partnership aims to create a "new silicon city" and will control future land sales within the site.

    The project will be developed in phases over several years, with 600 acres set aside for multiple uses. The Sonoran Oasis Science and Technology Park will feature a high-tech campus and mixed-use development along I-17, potentially accommodating up to 8,960 homes. Mack Real Estate Group has a significant commercial track record, including developments in Deer Valley, Orlando, and New York.

    Richard Mack, CEO of Mack Real Estate Group, sees the area as a hub for economic growth, driven by TSMC's Phoenix semiconductor fabrication campus. The partnership between Mack and McCourt will bring this vision to life, creating a new type of city that combines technology, innovation, and community.